Examples of Replacement Reserve Agreement in a sentence
The Borrower acknowledges as follows: (a) calculation of all interest payments shall be made by the Funding Lender; (b) deposits with respect to the Taxes and Other Charges shall be calculated by the Servicer or if there is no Servicer, the Funding Lender in accordance with the Security Instrument; and (c) deposits with respect to any replacement reserve funds required by the Funding Lender shall be calculated by the Servicer in accordance with the Replacement Reserve Agreement.
Borrower shall execute whatever security agreements, financing statements and other documents and instruments as Bondowner Representative may require in order to confirm Bondowner Representative’s security interest in and/or control over such accounts (including, without limitation, the Replacement Reserve Account referred to in the Replacement Reserve Agreement, and funds deposited therein).
Borrower shall have established and funded the initial deposit into the Replacement Reserve Account (as defined in that certain Replacement Reserve Agreement dated as of May , 2010, by and between CCRC and Borrower), in compliance with the Replacement Reserve Agreement, the Loan Agreement and the Indenture.
Xxxxxxx Mac will determine in its discretion the amount of any initial deposit and the monthly deposits under each Replacement Reserve Agreement.
OR deposited by Lender into the Replacement Reserve account established by Lender pursuant to the Replacement Reserve Agreement between Borrower and Lender dated _________________, 20___.